Bitcoin indicators
The macro indicators that really matter to understand Bitcoin as an institutional asset: how much Bitcoin is held by listed treasuries and spot ETFs, what share of the 21-million supply it represents, and what that exposure is worth. Beyond price, this is what measures long-term adoption.
Disclaimer: SatsIntel is for informational purposes only. It is not an authorized crypto-asset service provider (CASP) and does not provide financial, tax or legal advice. Crypto-assets are high-risk assets and may result in the total loss of the invested capital. See the legal terms.
The sum of Bitcoin held by listed corporate treasuries and US spot ETFs, worth $160.2bn. It is the gauge of how much of the asset has moved into long-term institutional vehicles —a share that keeps growing since 2024.
See the breakdown by category and the % of circulating supply →Institutional exposure to Bitcoin
SatsIntel's edge: corporate and regulated Bitcoin, measured.
The Bitcoin accumulated on the balance sheets of listed companies that hold it as a treasury reserve, led by Strategy. The direct measure of corporate adoption.
Bitcoin held by spot ETFs (US)₿ 1,283,2706.11% of supply · $79.1bn AUMThe Bitcoin custodied by the US spot ETFs approved in January 2024. It reflects the institutional and retail money entering through regulated vehicles.
Companies holding Bitcoin179companies worldwideThe number of companies —listed and private— that report Bitcoin on their balance sheet. An indicator of the breadth (not just the volume) of corporate adoption.
Spot ETF issuers1212 spot ETFsManagers offering a US spot Bitcoin ETF (BlackRock, Fidelity, Grayscale, ARK, Bitwise and more). The concentration of their custody is a risk the market watches.
The leading spot ETF's share of total AUM, the percentage of corporate Bitcoin held by the largest treasury (Strategy) and how much of the ETFs' Bitcoin sits with a single custodian. The market's concentration risk, measured.
See concentration by ETFs, treasuries and custody →Structural indicators
Bitcoin's monetary policy: fixed, predictable and deflationary.
The absolute, immutable cap on the number of Bitcoin that will ever exist. Around 95% has already been issued.
IssuanceHalving / 4 yrsThe block reward halves every ~210,000 blocks (about 4 years), making inflation decreasing and known in advance.
Reserve thesisPristine collateralFixed supply, no counterparty and no central bank to dilute it: the basis of its adoption as an institutional store of value.
Go deeper with the live data
Every indicator, broken down company by company and fund by fund.
Frequently asked questions
What are the main Bitcoin macro indicators?
Beyond price, the most relevant macro indicators of institutional Bitcoin are: the Bitcoin held by listed corporate treasuries, the Bitcoin custodied by spot ETFs, the share of the total supply (21 million) each and both combined represent, the dollar value of that exposure, and the number of companies and issuers involved. Together they measure how much of the asset is moving into long-term institutional hands.
What percentage of Bitcoin's supply is held by institutions?
Adding listed treasuries (6.12% of supply) and US spot ETFs (6.11%), aggregate institutional exposure is around 12.23% of the 21 million Bitcoin that will ever exist. It has grown sharply since the ETFs were approved in 2024 and the corporate treasury model expanded.
What is Bitcoin's total supply?
Bitcoin has a fixed, immutable maximum supply of 21 million units, of which roughly 95% has already been issued. Issuance halves roughly every four years (the halving), making its monetary policy predictable and deflationary. That programmed scarcity is the basis of its store-of-value thesis.
Where do these indicators come from?
Treasury data comes from tracking official filings (SEC, CNMV, TDnet and equivalents) and public sources; ETF data, from issuers and flow data providers. SatsIntel updates the aggregates continuously and also exposes them in the treasury directory and the ETF explorer.
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